Ganga Forging Limited IPO Review (Date, Price, DRHP)

Ganga Forging Limited IPO Review

Ganga Forging Limited is incorporated in 1988. This company is engaged in manufacturing of closed die forged products. It is mainly Gujarat based company. Now, move on to the issue details of the company then we will concentrate on Ganga Forging Limited IPO Review details.

About Ganga Forging Limited IPO :

  • IPO Opens on – June 29, 2018.
  • IPO Closes on – July 3, 2018.
  • Face Value – Rs. 10 Per Equity Share.
  • Issue Price – Rs. 21 Per Equity Share.
  • Issue Type – Fixed Price Issue IPO.
  • Market Lot – 6000 shares.
  • Minimum Order Quantity – 6000 shares.
  • Issue Size – 2,382,000 Equity Shares of Rs 10 aggregating up to Rs 5.00 Cr.
  • Listing Exchange – NSE SME Exchange.
  • Draft Prospectus – Click Here.

Objectives of the issue :

  • To finance setting up of Closed Die Forging manufacturing facility.
  • General corporate purposes.

About The Company –

  • Ganga Forging Limited caters to wide range of customers with a presence in most of the allied products in this industry.
  • This company’s manufactures components provide for the automotive industry, railways, construction equipment, agricultural machinery, and equipment.
  • Ganga Forging Limited’s manufacturing facilities are including machinery and other is handling equipment to facilitate which is the smooth manufacturing process.
  • This company has a strong capability in design and engineering, also including equipment and a full-fledged product testing facilities.
  • Ganga Forging Limited has totally 68 permanent employees on its payroll.

Ganga Forging LimitedGanga Forging LtdGanga Forging Pvt Ltd

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Promoters of the company :

  • Mr. Hiralal Mahidas Tilva, aged 69 years, is one of the Promoters of this company.
  • Mr. Rakesh Chaganlal Patel, aged 43 years, is one of the Promoters and Managing Director of this company.

Company Financials :

Ganga Forging Limited IPO

Ganga Forging Limited IPO Review:

From the above financial statement, we can get the profit details of the last five years. The growth level is not so good at all. Let’s have a look at the other fundamental details of the company, taken from DRHP or draft red herring prospectus. According to the last FY 2016-17 Ganga’s EPS stands at 1.39. P/E ratio is not available here. Now, come to the details of RoNW which is 12.34 in the last FY and NAV/share is 11.23. The company’s progressive report is so poor. Based on the available data Ganga Forging Limited IPO Review carries NEGATIVE view. It is advisable to avoid the IPO of the company. If investors want to take high risk, they can invest, otherwise, not to invest in this company.

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